LOI outlines key points of prospective deal as preliminary document. Typically nonbinding but signals serious interest and commitment. Essential for aligning parties before moving forward
Letter of intent serves as basis for formal binding agreements. Can be business investment, purchase, lawsuit, school application, or employment document. Most letters are non-binding unless explicitly stated
MOU is a non-binding agreement between parties expressing common action intentions. More formal alternative to gentlemen's agreement. Used when parties cannot create legally enforceable agreements
MOU is a written agreement between parties setting shared goals. Not legally binding but crucial for maintaining business relationships. Acts as precursor to formal contracts. Can hold weight in court unlike letters of intent
MOU is a non-binding written agreement outlining terms between parties. Serves as first step before formal contract formation. Contains expectations and thoughts between parties
LOI is a document used to negotiate terms of future sale. Can be known by various names including Intent to Purchase Letter. Acts as contract between parties before final contract is drawn up